Friday, January 18, 2008

Management & Business Analytics

Almost on a daily basis, my run of 150 blogs brings little treasures. It's the case this morning with an article published by Bhupendra Khanal entitled "Management Consulting May Not be the Right Answer!"

Being the tutor of Business Process Analysis, Introduction to Web Analytics and Web Analytics for Site Optimization for the UBC, this article sums it up very well. Let's take the example of Business Analytics:
Business Analytics is a term that describes how organizations gather and interpret data in order to make better business decisions and to optimize business processes.
Clear, simple and to the point. His "Rule for less probability of failure" is also very interesting. Note that Bhupendra doesn't claim a rule for "guaranteed success", which is a good thing!
  1. Know your operations first (make good MIS System) and streamline the process
  2. Know your strengths and weaknesses; know your past operations, current customers and their behavior (Analytics)
  3. Know the Market and the Competitors; know also the choice of current customers in the market (Market Research)
  4. Explore what can be done and show your gut feel (Strategy Planning and Management)
  5. Go to the Market with full force (Proper Execution) -- and back to 1.
Full article on Bhupendra's site.